Photo

FILE - In this Jan. 9, 2013 file photo, Argentina's naval training tall ship ARA Libertad arrives to port as planes fly overhead during a ceremony in Mar del Plata, Argentina Ghana courts ordered the ship held in October on a claim by Cayman Islands-based hedge fund NML Capital Ltd. But the U.N.'s International Tribunal for the Law of the Sea ordered the ship's release after Argentina argued that warships are immune from seizure. Judgment day is approaching in an epic battle between Argentina and New York billionaire Paul Singer, who has sent lawyers around the globe trying to force the South American country to pay its defaulted debts. Three U.S. appellate judges will hear oral arguments in New York on Wednesday, Feb. 27, 2013, in the case, NML Capital Ltd. v. Argentina. The case has shaken bond markets, worried bankers, lawyers and diplomats, captivated financial analysts and generated enough “friend of the court” briefs to kill a small forest. (AP Photo/Natacha Pisarenko, File)
/ AP